Located at 46-48 Brisbane Road, Labrador, the 1,687sqm* dual-frontage site attracted an outrageous amount of attention from both local and interstate investors wanting to lock down this asset. Anchored by established national tenants The Car Place and Midas Tyre & Auto, the asset delivers a secure triple net income of $197,760 per annum.
“This campaign generated an incredible 58 qualified enquiries in just 9 days, which speaks volumes about the demand for well-located, retail or industrial style investments with net leases,” said agent Jackson Rameau.
“Ultimately, the property received multiple offers and signed contracts in the first week online and was then snapped up before auction by an international investor who recognised the rarity and strength of this corner holding.”
Mr Rameau credited a strategic marketing campaign for creating competitive tension early in the process, which resulted in the owner wanting to sell and secure such a tight yield given the auction was still three weeks out.
“We’ve seen a clear trend towards premium prices being achieved when sellers commit to an auction process where buyers are forced to prove their interest or miss out. We believe this premium result was directly due to our auction strategy and tailored campaign rather than a traditional EOI process where buyers tend to sit back and wait,” he said.
The private local seller was reportedly thrilled with the outcome, which further cements Brisbane Road as one of the Gold Coast’s most sought-after commercial strips.
“There’s no question that high-exposure assets leased to national style tenants continue to outperform. Buyers - particularly from interstate or overseas - are chasing secure income streams and long-term growth, and they’re willing to pay a premium for the right opportunity,” Mr Rameau said.
This result adds to a growing list of successful sales along Brisbane Road and highlights the ongoing strength of the automotive and service retail sector.
